Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
Duty exemption for durable containers imported under the specified customs notification remains conditional on execution of a bond by the importer or shipping agent and re-export within six months from landing. Re-export extensions may be granted for three months by the Assistant/Deputy Commissioner, followed by two further six-month extensions at successively higher approval levels; any rejection requires written, case-specific reasons. Off-hiring is not a valid ground for extension. Where cargo is detained for examination or investigation, it should be destuffed and stored so containers can be re-exported; extensions for laden containers awaiting clearance or auction may be considered on a substantiated request. Manual document and statement submission requirements have been discontinued.
Duty exemption for durable containers imported under the specified customs notification remains conditional on execution of a bond by the importer or shipping agent and re-export within six months from landing. Re-export extensions may be granted for three months by the Assistant/Deputy Commissioner, followed by two further six-month extensions at successively higher approval levels; any rejection requires written, case-specific reasons. Off-hiring is not a valid ground for extension. Where cargo is detained for examination or investigation, it should be destuffed and stored so containers can be re-exported; extensions for laden containers awaiting clearance or auction may be considered on a substantiated request. Manual document and statement submission requirements have been discontinued.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4915 
